Arcus, a decentralized exchange (DEX) developed by the team behind dYdX, has introduced a groundbreaking protocol on Robinhood Chain. This protocol enables the conversion of perpetual futures positions into transferable ERC-20 tokens and allows tokenized stocks to serve as collateral for leveraged trading.
The launch encompasses innovative products like pBTC3x and pHOOD3x, providing users with 3x exposure to Bitcoin and Robinhood’s HOOD stock token. These offerings were unveiled in a press release shared with Cointelegraph on Tuesday.
One of the standout features of this launch is the introduction of a multi collateral system that initially supports SPY, QQQ, and MAG7 Stock Tokens. These tokens boast a 50% loan-to-value ratio, enabling traders to utilize tokenized equities as collateral for their perpetual positions.
“Traditional markets have made complex investment strategies more accessible over the years with products like leveraged ETFs. We believe that the next evolution is integrating these strategies directly into blockchain infrastructure,” stated Arcus CEO Eddie Zhang.
Since its debut on Robinhood Chain, Arcus has facilitated over $250 million in trading volume, with an average daily volume surpassing $33 million.
Robinhood Chain has seen significant growth, with a total value locked of $596 million since its launch on July 1. This places it among the top 15 chains in terms of DeFi TVL, according to data from DeFiLlama.